What brings COP29 from Baku/Azerbaijan as outcomes

COP 29 from BAKU has some interesting outcomes. To understand, we want to have an introspective overview of the COP series (Conference of the Parties), which represents a sequence of annual conferences organized under the United Nations Framework Convention on Climate Change (UNFCCC). These gatherings bring together representatives from nearly 200 countries and international organizations, the private sector, and civil society to discuss and make decisions on combating climate change.

The first COP occurred in 1995 in Berlin, establishing a framework for concrete measures to reduce global greenhouse gas emissions.

Key milestones in the COP series include:

  • COP3 (1997, Kyoto, Japan) – Set binding targets for emission reductions.
  • COP21 (2015, Paris, France) – The Paris Agreement marked a historic moment by committing to limit global warming.
  • COP24 (Katowice, Poland) – Parties established most elements of the rulebook for implementing the Paris Agreement, including guidelines for measuring, reporting, and verifying emission reduction efforts.
  • COP26 (2021, Glasgow, UK) – Focused on phasing out coal.
  • COP27 (2022, Sharm el-Sheikh, Egypt) – Concentrated on loss and damage, establishing a fund to support vulnerable countries affected by climate change.

Throughout these conferences, communities of practice have emerged, consisting of experts, practitioners, and stakeholders working collaboratively to support and implement global climate goals. These communities focus on diverse areas, including climate adaptation and resilience, carbon markets, climate education and public engagement, technology and innovation, loss and damage, and climate finance.

These conferences are essential in achieving climate objectives by building capacity, fostering collaborative innovation, and ensuring effective implementation.

At COP29 in Baku, representatives from different countries reached a groundbreaking agreement to triple climate transition financing for developing countries to $300 billion annually by 2035, compared to the previous financing target of $100 billion annually.

 

Key alignments at COP29 in Baku

Expert groups have established a series of visions and critical actions to accelerate climate transition, support vulnerable nations, and achieve the goal of limiting global warming to 1.5°C.

John Podesta, Senior Advisor to the U.S. President, highlighted the stakes:
“We face an urgent question: do we secure sustainable prosperity for our countries, or do we condemn our most vulnerable to unimaginable climate disasters? Vulnerable communities need action, not just ambition.”​

VISIONS

  • Transitioning to a sustainable global economy by improving transparency and international collaboration to reduce greenhouse gas emissions and increase the use of renewable energy sources.
  • Inclusion and resilience by operationalizing the Loss and Damage Fund, essential for the countries most affected by climate change.
  • Energy and human security by promoting the connection between energy use, peace, and human security, highlighting the benefits of green energy for preventing conflict and poverty.

STABILIZATION ACTIONS OUTLINED AT THE CONFERENCE:

  • Launching the Climate Finance Fund, aimed at mobilizing $1 billion annually for green projects and supporting the implementation of NDCs (Nationally Determined Contributions) in developing countries.
  • Reviewing and increasing the ambition of national contributions to ensure alignment with the 1.5°C target. All countries must have National Adaptation Plans by 2025.
  • Adopting clear regulations for international carbon markets in line with Article 6 of the Paris Agreement.
  • A Day Dedicated to Digitalization, exploring integrating advanced technologies to reduce the carbon footprint and accelerate green innovation.
  • Organizing a Global Methane Emission Reduction Summit, coordinated by the US and China, and developing stricter policies for other non-CO₂ gases.

COPs will continue annually, and all future discussions will concentrate on achieving the Sustainable Development Goals and Targets.